Correlation Analysis Between Yobit BiosCrypto and LiveCoin Litecoin

This module allows you to analyze existing cross correlation between Yobit BiosCrypto USD and LiveCoin Litecoin USD. You can compare the effects of market volatilities on Yobit BiosCrypto and LiveCoin Litecoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Yobit BiosCrypto with a short position of LiveCoin Litecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit BiosCrypto and LiveCoin Litecoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yobit BiosCrypto USD  vs.  LiveCoin Litecoin USD

Yobit

BiosCrypto on Yobit in USD
 0.001895 
0.001607  45.89%
Market Cap: 0
  

LiveCoin

Litecoin on LiveCoin in USD
 124.82 
1.00  0.81%
Market Cap: 27.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 16.26 times more return on investment than LiveCoin Litecoin. However, Yobit BiosCrypto is 16.26 times more volatile than LiveCoin Litecoin USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about -0.15 per unit of risk. If you would invest  0.10  in Yobit BiosCrypto USD on April 27, 2018 and sell it today you would earn a total of  0.09  from holding Yobit BiosCrypto USD or generate 85.78% return on investment over 30 days.

Pair Corralation between Yobit BiosCrypto and LiveCoin Litecoin

0.24
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BiosCrypto USD and LiveCoin Litecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Litecoin USD and Yobit BiosCrypto is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Yobit BiosCrypto USD are associated (or correlated) with LiveCoin Litecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Litecoin USD has no effect on the direction of Yobit BiosCrypto i.e. Yobit BiosCrypto and LiveCoin Litecoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BiosCrypto USD  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
LiveCoin Litecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin Litecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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